Chennai, India
– November 4, 2024 : Triolt
Energy Pvt Ltd, an IIT Madras-incubated startup specializing in
next-generation energy storage solutions, has successfully closed a ₹71 Lakh
funding round led by Campus Angels Network. This investment follows
the recent ₹1.29 Crores raised from Little
Angels Network and SIDBI, marking a significant up round and
underscoring Triolt Energy’s rapid growth and innovation in the lithium-ion
battery sector.
Triolt Energy, founded by IIT Madras alumni Raghu Sripada and Ananya Gangadharan, along with IISc Bangalore
alumnus Rajesh Thomas, is at the forefront of
designing and fabricating advanced lithium-ion cells. Their proprietary
electrode material processing and unique cell designs aim to meet the evolving
demands of electric vehicles (EVs) and other critical applications, offering
solutions that enhance safety, performance, and cost-effectiveness.
Leadership
Insights
Raghu Sripada, Co-Founder & CEO, Triolt Energy:
“This funding will accelerate our efforts to bring our cutting-edge lithium-ion
cells to market. Our incubation at IIT Madras Incubation Cell, along with
invaluable mentorship from Prof. Ashok Jhunjhunwala, has equipped us to drive
innovation in energy storage technology. With this investment, we are
well-positioned to address the key challenges of fast charging, high discharge
rates, and long cycle life, making EVs more accessible and reliable.”
Chandran Krishnan, Managing Director &
CEO, Campus Angels Network: “Triolt Energy’s innovative approach, backed by
their strong foundation at IIT Madras, aligns perfectly with our investment
philosophy. We believe their advanced energy storage solutions will play a
crucial role in the future of mobility and renewable energy, and we are excited
to support their journey toward transforming the industry.”
Building
Momentum for Business Growth
This investment will support Triolt Energy’s scale-up
in production, further technology validation, and initial deployment to select
customers. By pioneering next-generation lithium-ion cells, Triolt Energy aims
to enhance its proprietary technologies, enabling faster EV adoption, reducing
charging time from six hours to 15 minutes, and extending battery life by 1.5
times. These efforts will propel the industry toward more efficient and
sustainable energy practices.